Wednesday, January 24, 2007

A new container terminal was opened at Saqr Port in Ras Al Khaimah by the Kuwait based KGL Ports International. KGL Ports had earlier secured a twenty one year allowance to develop, operate and own the terminal, the official inauguration of which is scheduled during March. The current phase of the project is worth $70 million, which is a part of $250 million investment plan for the expansion of the port. The capacity of the port is likely to be increased to three million from the current 350,000 twenty-foot equivalent units (TEUs) within a span of five years.

The Chairman and CEO of KGL International Ports, Mohammad Al Mazeedi, has stated that this milestone indicates the major role played by the company in the area of ports management and the ability to fulfill their business objectives in compliance with its long term plans.

Mazeedi has mentioned that after the official inauguration of the port, 150,000 containers will be shipped at the Saqr Port from local companies. He added that they have already begun negotiations with major cargo companies, who have already given their consent in using the new facilities of the port to monitor the performance of the port for a test time.

He added that in the current phase, the four basins and platforms of the port already have the capacity to handle 350,00 containers and a fresh basin with 16 mts. draft would be required in the months to come.